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Wall Street Journal editorial 2/11/2002
REVIEW & OUTLOOK
Bush and Asbestos
"Through no great failing of his own, Vice President Dick Cheney may not have been the best investment for his former employer, Halliburton. As CEO, he led the company to a much-applauded merger with Dresser Industries, but now Halliburton finds itself engulfed in a red tide of asbestos litigation. And his new job could be interfering with the Bush Administration's willingness to help.
Halliburton has been hit by four asbestos verdicts totaling $152 million in recent months. It faces 250,000 other claims and counting, most originating from the Dresser side. In this the company is like much of American business, for which asbestos suits have become the new plague.
( Read more... )
REVIEW & OUTLOOK
Bush and Asbestos
"Through no great failing of his own, Vice President Dick Cheney may not have been the best investment for his former employer, Halliburton. As CEO, he led the company to a much-applauded merger with Dresser Industries, but now Halliburton finds itself engulfed in a red tide of asbestos litigation. And his new job could be interfering with the Bush Administration's willingness to help.
Halliburton has been hit by four asbestos verdicts totaling $152 million in recent months. It faces 250,000 other claims and counting, most originating from the Dresser side. In this the company is like much of American business, for which asbestos suits have become the new plague.
( Read more... )